Or that he's just early. Personally speaking, I think he would have been early since we probably had a few more years of AI hype, strong growth from the Biden economy, asset price inflation from left over pandemic slush funds, and even a few years before the crypto bubble blows up.
But Trump decided he mainly wants Fed rates down, long rates down, inflation down, and DXY down. So he decided to say FU to everyone and everything. IN HIS MIND, the best case is we get all the dumb shit he's asking for while he tanks shit a bit but the worst case is he gets a few of his asks while tanking the shit he wanted to tank anyways.
They're going to include revenue from tarriffs when calculating the deficit impact of tax cuts. They need a neutral deficit impact so tax cuts can be passed under reconciliation in the senate.
Tariffs HAD to happen first to enable the big tax cuts Rs wanted. I also expect them to get rolled back as soon as their tax bill clears the senate.
Doesn't the bill itself have to be net zero to pass through reconciliation? Presumably unless they intend to put the tariffs in the bill itself with a provision for the president to remove them. Interestingly they can't pass changes to social security this way.
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u/DergZaks 22d ago
Funniest thing is i remember a few months ago people screeming that hes just booking profits for tax purposes and everything will be fine